Shamrao Vithal Co-operative (SVC) Bank, one of India’s leading multi-state scheduled banks, has announced a change in its brand logo. This change reflects the bank’s vision for future expansion of the business, which includes reinforcing its position as one of India’s leading co-operatives.
Commenting on the new logo, Suresh Hemmady, Chairman, SVC Bank said, “We are extremely optimistic and confident that we are equipped to meet new challenges for business expansion and growth. Our new brand logo is also aimed at garnering recall among today’s youth, who are an important and crucial segment of our audience. It represents the Bank’s core values of trust and progress as it takes a step forward. This change enhances the Bank’s status in the country and provides the differentiation needed to stand out in a competitive and crowded marketplace.”
The new logo element consists of three bands and is a combination of ‘S’ and ‘V’ and also the upward spiral signalling growth which culminates into the new logo of SVC Bank, heralding a new age of prosperity for the Bank and its customers.
This announcement comes at a time when SVC Bank witnessed its net profit crossing Rs 100 crore, with total business crossing Rs 17,500 crore in FY14, and increase of more than 16 per cent as compared to FY13.